NEW YORK CITY—First Capital acquired assets of Coldwell Banker Commercial Advisors, a privately held affiliate of Coldwell Banker Commercial, on March 31, 2018, for an undisclosed price. The acquisition combines First Capital's investment platform with Coldwell Banker Commercial Advisors' national network of brokers and asset managers and community partnerships to form Advisors Commercial Real Estate.
The new national investment and brokerage firm includes over 150 brokers and other professionals in 12 offices, located in New York, New Jersey, Colorado, Texas, Arizona, and in Southern California, Los Angeles, Irvine, El Segundo and Ontario. These offices will be serving local, regional and national markets.
Having a national footprint, Advisors Commercial Real Estate will leverage Coldwell Banker Commercial Advisors' scale, proprietary intelligence and management tools with First Capital's experience in private placement offerings, acquisitions and repositioning of assets in secondary markets.
“This acquisition provides for a unique mix of investment and brokerage within a national asset management platform,” says Suneet Singal, chairman of First Capital, who oversees Advisors Commercial Real Estate. “Our approach to identifying unutilized value in dynamic secondary markets coupled with the credibility and trust CBC Advisors has earned in the investment community will greatly serve our investors and clients.”
Rob Cord, the incoming president and CEO of Advisors Commercial Real Estate, emphasizes that First Capital excels in cultivating long-term value in real estate through proactive, hands-on asset management. “This experience in revitalizing and relaunching assets with untapped value will be an incredible resource to our clients and brokers,” says Cord. He's transitioning from being president of Coldwell Banker Commercial Advisors to leading the new company.
Singal says Cord will help ensure a seamless transition of client services and operations. Prior to the acquisition, Coldwell Banker Commercial Advisors was the largest commercial brokerage firm in the Coldwell Banker organization, and the top-performing Coldwell Banker Commercial affiliate globally, with over $4 billion in assets under management and a closed volume of over $2 billion in 2017.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
